Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 23,325-23,425 levels and a strong buy zone at 23,200-23,300 levels on Thursday, June 20. For the Nifty Bank, he expects support to come in at 51,000-51,150 levels and a strong buy zone at 50,575-50,775 levels.

Here's how Anil Singhvi sums up the market setup:

  • Global: Neutral
  • FII: Neutral
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive
  • FII long positions at 54 per cent vs 49 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.10 vs 1.26
  • Nifty Bank PCR at 1.40 vs 1.22
  • Volatility index India VIX up six per cent at 13.71

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

He sees a higher zone for the headline index emerging at 23,550-23,650 levels and a "blue-sky zone" above 23,700 with the next big targets at 23,800 and 24,000.

For the banking index, he expects a higher zone at 51,800-51,950 levels and a blue-sky zone above 52,050.

ANIL SINGHVI MARKET STRATEGY   ​

For existing long positions:

  • Nifty intraday stop loss at 23,400 and closing stop loss at 23,250
  • Nifty Bank intraday and closing stop loss at 51,000

For existing short positions:

  • Nifty intraday stop loss at 23,700 and closing stop loss at 23,575
  • Nifty Bank intraday stop loss at 52,050 and closing stop loss at 51,500

For new positions in Nifty50: 

  • The best range to buy Nifty is 23,325-23,425 with a stop loss at 23,200 for targets of 23,465, 23,500, 23,550, 23,575 and 23,650
  • Aggressive traders can sell Nifty in the 23,550-23,650 range with a strict stop loss at 23,700 for targets of 23,500, 23,465, 23,440, 23,415, 23,350 and 23,325

For new positions in Nifty Bank: 

  • The best range to buy Nifty Bank is 50,575-50,775 with a stop loss at 50,400 for targets of 50,950, 51,125, 51,375 and 51,475
  • Aggressive traders can buy Nifty Bank in the 51,000-51,150 range with a strict stop loss at 50,900 for targets of 51,375, 51,475, 51,650, 51,800 and 51,950
  • Sell Nifty Bank in the 51,800-51,950 range with a stop loss at 52,050 for targets of 51,525, 51,425, 51,150, 51,025, 50,800 and 50,675

F&O ban update 

  • New in ban: Indus Towers, Chambal Fertilisers, HAL
  • Out of ban: Sun TV, GNFC
  • Already in ban: Piramal Enterprises, Balrampur Chini, Hindustan Copper, India Cements, SAIL

Stock of the Day

Buy Uno Minda shares with a stop loss at Rs 1,040 for targets of Rs 1,075, Rs 1,085 and Rs 1,100

  • Auto ancillary stocks looking strong
  • Goldman Sachs has initiated coverage with 'buy' rating, Rs 1,350 target

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.